Core Insights - The concept of affordability is increasingly prominent in political discourse, particularly following recent discussions involving President Trump and New York City Mayor Elect Zoro Mami, yet it remains a complex issue that is difficult to quantify and address effectively [1][4][5] - Public sentiment regarding affordability does not necessarily align with economic data, as perceptions of affordability can persist even when objective measures do not indicate significant deterioration [1][2][3] - The affordability crisis is influenced by various factors, including healthcare costs, housing prices, and consumer sentiment, which complicates the ability of policymakers to address the issue effectively [6][21][26] Economic Conditions - Despite a decrease in inflation rates from 9% to 3%, public perception of affordability remains negative, indicating a disconnect between economic indicators and individual experiences [3][15] - Mortgage rates and construction costs are significant contributors to housing affordability challenges, with rising interest rates impacting potential homebuyers [2][17][20] - The affordability index, which considers income, mortgage rates, and home prices, shows that current affordability is worse than pre-pandemic levels but similar to conditions before the 2008 financial crisis [21][22] Political Dynamics - Polling indicates that affordability is a bipartisan concern, with a notable percentage of Republicans acknowledging rising prices as a significant issue [5][6] - The Biden administration's approach to addressing affordability has faced criticism, particularly regarding the perception of inflation and its impact on public sentiment [3][4] - Local and state governments have the potential to improve housing supply by reducing regulatory barriers, which could positively influence affordability in the medium term [26][27]

Market Performance - Shares in Europe and Asia advanced following a surge on Wall Street, driven by hopes that the Federal Reserve will soon cut interest rates [2] - The S&P 500 futures gained 0.3% and the Dow Jones Industrial Average futures rose 0.2% [2] - In early European trading, Germany's DAX and France's CAC 40 both increased by 0.2%, while Britain's FTSE 100 edged up 0.1% [2] - The Nikkei 225 in Tokyo rose 1.9%, while South Korea's Kospi gained 2.7%, supported by a 3.5% increase in Samsung Electronics [2] - The Russell 2000 index of the smallest U.S. stocks jumped 2.1%, indicating a strong performance among smaller companies [2] Economic Indicators - Mixed economic data has led traders to bet on an 83% probability that the Fed will cut rates in December [2] - U.S. retail sales in September were lower than expected, and consumer confidence worsened more than anticipated in November, suggesting the economy may need support from lower interest rates [2] - A report indicated that U.S. wholesale inflation was slightly worse than expected in September, although a closely tracked underlying trend showed improvement [2] Company-Specific Developments - Kioxia shares dropped 14.9% due to reports that Bain Capital plans to sell $2.3 billion of the company's shares [2] - Alibaba's shares fell 1.9% after reporting profits that fell short of forecasts, despite stronger-than-expected revenue for the latest quarter [2]

Business Performance - Loan book grew by 8% QoQ, outperforming the industry growth of 7.6%[8] - Total deposits increased by 15% QoQ and 40% YoY[8] - US$ deposits reached record levels, up 31% QoQ and 56% YoY[8] - Net fee income increased by 7% QoQ and 9% YTD[8] Profitability and Asset Quality - The company experienced a net loss of 50 billion in 3Q25 due to increased Cost of Risk (COR)[8] - Net Interest Margin (NIM) declined to 11%[8] - NPL ratio increased to 3.9%[8] - Net COR was 6.4% in 3Q25 and 5.2% YTD[8] Strategic Initiatives and Capital - CET1 ratio stood at 13.2% as of September 2025, increasing to 14.5% by October 2025[8, 18] - The company continued to evolve its SuperApp[8] - Cost reduction of 2% QoQ and 12% YTD was achieved[8] Macroeconomic Context - The Central Bank Market Expectations Survey as of October 2025 projected inflation of 30%, an Fx eop at 1,532, and GDP growth of 3.9% in 2025[15, 19]

Well, I'm of the view that the nominal neutral rate. Is no harden 3%. So I'm of the view that the Fed has no business being almost 100 basis points above neutral when you consider the trend in underlying inflation, which has been gradually to the downside but is on the downside and the unemployment rate.No, keep in mind we always talk about how inflation is still above the Fed's target. The Fed has a dual mandate and the unemployment rate is just a snake. Now to the second decimal place below four and a hal ...

Ghana’s central bank delivered a third consecutive interest-rate cut with inflation projected to reach or decline below the bottom of its target range by year-end https://t.co/DuNvKa1bjm ...

Core Insights - U.S. consumers exhibited a significant decline in economic confidence during November, influenced by factors such as the government shutdown, weak hiring, and persistent inflation [1] Economic Impact - The government shutdown has contributed to a decrease in consumer confidence, indicating potential challenges for economic recovery [1] - Weak hiring trends have further exacerbated concerns among consumers regarding the overall economic outlook [1] - Stubborn inflation continues to be a pressing issue, affecting consumer sentiment and spending behavior [1]

A new analysis from the Federal Reserve Bank of San Francisco examined the impact of tariffs on the economy based on historical examples, finding that the effect of import taxes on inflation and unemployment vary over time. The San Francisco Fed on Monday published an economic letter by senior policy advisor Oscar Jorda and Vice President Fernanda Nechio, both of the San Francisco Fed's Economic Research Department, that used data from four decades of international trade to measure the economic shifts cause ...

ACTUALLY JUST COME OUT AND TALK ABOUT THE MEANINGFUL ISSUES IN THE AMERICAN PEOPLE, RATHER THAN THE SHORT TERM VIEW OF THE NEXT MEETING. >> JOINING US RIGHT NOW TO TALK ABOUT THIS AND MAYBE WHO'S GOIN TO GET THE TOP JOB. PETER BOOCKVAR, CHIEF INVESTMENT OFFICER AT ONE POINT, BFG WEALTH PARTNERS AND A CNBC CONTRIBUTOR.PETER, GOOD MORNINTO YOU. WHAT DO YOU THINK OF THE IDEA THAT TOO MANY OF THE FOLKS WHO ARE GOVERNORS OF THE FED, OR THE PRESIDENTS OF DIFFERENT FEDERAL RESERVE BOARDS ARE CELEBRITIES. THEY SHOU ...

Core Viewpoint - The discussion revolves around the Federal Reserve's approach to monetary policy, particularly the balance between addressing inflation and supporting the labor market, with a focus on potential leadership changes within the Fed. Group 1: Federal Reserve's Role and Policy - The Federal Reserve has become an activist institution over the past 25-30 years, and there is a desire for it to return to a more background role similar to the Alan Greenspan era [2][4] - Central bankers face a delicate balance between managing inflation and the jobs market, which can sometimes conflict with policy decisions [3] - Interest rates should ideally be above the rate of inflation to prevent long-term economic issues [4][6] Group 2: Inflation and Economic Conditions - The current economic environment has seen a sharp rise in inflation over the past five years, impacting small and medium-sized businesses significantly [5][13] - A softer labor market is viewed as a symptom of inflation rather than the primary issue, indicating that inflation should be prioritized in policy decisions [5][11] - The absolute level of inflation remains high, and addressing this is crucial for fostering a healthier economy and stronger job growth [13] Group 3: Leadership Changes and Candidates - Kevin Hasset is currently seen as a leading candidate to replace Jay Powell as Fed chairman, with discussions around the structure and independence of the Fed [9][10] - The qualifications of potential candidates, including Hasset, are acknowledged, but there is caution against slashing interest rates without considering the long-term implications [11][14] - The importance of maintaining an independent Fed is emphasized, as market reactions could reflect dissatisfaction with the Fed's direction [10][14]

A top official at India’s central bank defended its forecasting models after consistent misses on inflation this year prompted scrutiny of its projections https://t.co/8idZRL2vQq ...